RATE Group | CBOE Broke Record for Bitcoin Futures Volume
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CBOE Broke Record for Bitcoin Futures Volume

27 Apr CBOE Broke Record for Bitcoin Futures Volume

Posted at 19:46h in Bitcoin News by

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The popularity of trading bitcoin  futures contracts (XBT) continues to scale new heights. On Wednesday, CBOE, the dominant U.S. derivatives exchange providing bitcoin futures contracts, saw its highest-ever trading volume for bitcoin futures since the launch of trading in December. (See also: How to Invest in Bitcoin Futures.)

A total of 19,000 bitcoin futures contracts belonging to different expiry dates exchanged hands on CBOE on Wednesday. Some 18,210 bitcoin futures were traded for the next month May expiry, another 703 that exchanged hands belonged to the midmonth June expiry cycle, while the rest 87 were of the far month July expiry. No contracts belonging to August expiry were traded Wednesday.

Wednesday’s record volume was three times higher than the average daily trading volume (ADTV) of 6,600 XBT Bitcoin Futures. Since ADTV indicates liquidity, it has an indirect impact on the price of the security. Thinly traded instruments are usually avoided by the…

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